Comment on Please Stop
Knock_Knock_Lemmy_In@lemmy.world 6 months agoCryptography - means that only you can make changes. No database administrator. No hacker. No-one but you.
Limited actions - means the changes you make must follow rules that cannot be altered by anyone.
Both impossible to implement on a normal DB, which is why bitcoin was revolutionary.
kameecoding@lemmy.world 6 months ago
thats not what cryptography means, and is a huge fucking downside especially for banking which us centrally controlled
It’s called triggers, user roles etc, once again you dont want this to be unalterabale for banking because what if regulations change…
Only thing bitcoin revolutionized was the speed with which scammers can dupe people out of their money.
theneverfox@pawb.social 6 months ago
They were saying what it meant in this context
Meaning, in a DB, the admin could change roles and modify anything.
Database triggers can have bugs, and we generally don’t let third parties log into the database directly because it’s a huge attack surface
In blockchain, without a key you’re cryptographically locked out. The only way around that is if the network as a whole changes their code to a version that allows something like that
It’s just a ledger where every entry is signed by a private key. That’s a fantastic structure for certain specific use cases…
Knock_Knock_Lemmy_In@lemmy.world 6 months ago
You didn’t even know what “those big words” meant a second ago.
Banking doesn’t need to be centrally controlled. It only has been for the past few hundred years.
Why pay and trust a 3rd party control those?
You update the smart contracts
Almost true. Scams are not the only thing revolutionized.
kameecoding@lemmy.world 6 months ago
Dude, my name literally contains “coding” you made the assumption I didn’t understand it…
Yeah banking needs to be controlled because what if something goes wrong, you can’t be this dense, stolen credit cards, stolen identity wring transaction, what if the validators disagree what is the truth ala bitcoin split?
Blockchain is woefully inadequate to manage finances…
Knock_Knock_Lemmy_In@lemmy.world 6 months ago
No. You admitted those words mean nothing to you.
You plan for each eventually and ensure all responsibilities are understood.
Multisignature, limit controlled wallets
Wait for a few blocks before assuming your transaction is confirmed. Don’t be dishonest during a fork event.
The general public is woefully uneducated and unsupported for blockchain managed finances, but the technology is fine.